Investing in stocks and making my saved capital appreciate is great, but it doesn’t help me pay expenses. I like to invest and re-invest money for my future, but what about the expenses I have now?
After I graduate, to pay bills I will need some steady income. So far I have thought of these three steady income ideas:
- Getting a Job: Easiest way to make money. The monthly paycheck can be used for savings, investing and paying the bills. You can also simultaneously run a small, low maintenance business on the side.
- Real Estate: Difficult entry. Renting out a piece of real estate provides a great monthly income, but it can also be a big cash drain. This method would go along well with having a job, since the real estate generally requires little attention once established.
- Small Business. Intermediate entry. I personally like this one the best, because owning a business gives me the feeling of earning my money. All my risk and labor will come directly back to me with a small business. This method can also go completely wrong, and is very risky if it is your sole income.
After college, I plan on doing all three within two years. As of now, I already invest, run small businesses and hold a job. Some real estate needs to be added to my current situation. Perhaps I will buy a small apartment or condo in an emerging area soon.